This form provides the IRS with a detailed breakdown of how the purchase price is allocated across different asset categories. General Instructions.IRS Form 8594 walkthrough (Asset Acquisition Statement under IRC Section 1060). Part III: Reporting any liabilities assumed with the asset acquisition. 1.10 Assumed Liabilities. This Annual Information Statement (AIS) Update (the "AIS Update") is dated March 7, 2017 and contains information only through that date. The tax professional who comes into contact with such a situation should consider the need to file Form 8594, or to revise the valuation of specific assets.